1,258 Shares in The Allstate Corporation $ALL Purchased by Norris Perne & French LLP MI

Key Points

• Norris Perne & French LLP MI purchased 1,258 shares of The Allstate Corporation valued at approximately $253,000, indicating renewed interest from institutional investors.
• Allstate's stock recently saw a rise of 1.4% and has a market capitalization of $56.06 billion, with a PE ratio of 10.00.
• The company announced a $1.00 quarterly dividend to be paid on October 1st, offering a yield of 1.9% and a modest dividend payout ratio of 18.81%.

Norris Perne & French LLP MI bought a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,258 shares of the insurance provider's stock, valued at approximately $253,000.

A number of other hedge funds also recently made changes to their positions in ALL. Arlington Trust Co LLC raised its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 89 shares during the period. Hughes Financial Services LLC purchased a new stake in Allstate during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its position in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in Allstate during the first quarter valued at approximately $43,000. Finally, 1 North Wealth Services LLC purchased a new stake in Allstate during the first quarter valued at approximately $51,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 1.4%

Shares of NYSE ALL opened at $212.76 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $56.06 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.37. The stock's fifty day simple moving average is $203.12 and its two-hundred day simple moving average is $200.83. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. As a group, analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 18.81%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALL shares. BMO Capital Markets upped their price objective on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Roth Capital set a $230.00 price objective on Allstate and gave the company a "buy" rating in a research report on Friday. Morgan Stanley upped their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Wolfe Research raised Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $231.38.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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